As the Russian government is working on laws to regulate virtual currencies, the country’s finance ministry has proposed making their mining illegal. However, buying them will not be punishable.

“The penalties will be different, mostly administrative, but if someone created the cryptocurrency for the purpose of settlements, then there will be a criminal punishment,” said Deputy Finance Minister Aleksey Moiseev.

Criminal penalties can also be applied to the creation of a financial pyramid or the issuance of a cryptocurrency to avoid tax, he said. The minister stressed that buying bitcoin and other cryptocurrencies would be legal. …